Shanghai Tianyang Hot Melt Adhesives Co., Ltd. (SHSE:603330) announced a private placement of not more than 32,760,000 A shares for gross proceeds of not more than CNY 680,000,000 on June 15, 2020. The transaction will involve participation from not more than 35 investors. The shares issued will not be more than 30% of total share capital and the issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date. The shares have a hold period of 6 months from the issuance closing date. The transaction has been approved in the 5th meeting of the company's 3rd directorate, and is subject to the approvals of the shareholders of the company at the 1st special shareholder's meeting of 2020 to be held on July 1, 2020, and China Securities Regulatory Commission.